iTaukei landowners in Fiji are confronting substantial obstacles in their pursuit of entrepreneurship, primarily due to financial challenges and a lack of business education. During a recent discussion in Kinoya, Ifereimi Vasu, the Minister for iTaukei Affairs, emphasized how these issues hinder iTaukei individuals from participating fully in the business arena.
To combat these challenges, Vasu highlighted the proactive approach of the iTaukei Trust Fund Board (TTFB), which aims to assist iTaukei communities through financial literacy workshops tailored to empower budding entrepreneurs. He remarked, “The TTFB has the capability to assist landowners and any iTaukei individuals looking to enter the business sector. We have the resources that can be utilized effectively, and it is crucial for us to provide business plans and other requirements that the TTFB can help with.”
In an innovative move, the iTaukei Land Trust Board plans to allocate 10 percent of its earnings to create a Wealth Fund designed to support iTaukei businesses. Vasu noted that many community members remain unaware of the assistance available from the TLTB, which is geared towards facilitating their transition into entrepreneurship.
The Ministry is intent on increasing the proportion of iTaukei business owners, which currently stands at only five percent, thus enabling these communities to make a significant contribution to Fiji’s economy. This initiative aligns with previous calls from TLTB CEO Solomoni Nata, who advocated for a shift away from a dependency mindset, urging landowners to leverage their resources to uplift themselves from poverty.
In addition to these measures, a series of workshops and community projects have recently been rolled out to bolster strategic planning skills and encourage increased business ownership within the iTaukei community. The Minister’s commitment to fostering business initiatives signals a hopeful development toward enhanced economic resilience and diversity in Fiji.
With a collaborative approach and robust support systems, the iTaukei community is on a promising path toward cultivating a thriving entrepreneurial landscape that paves the way for a more empowered and financially independent future.
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